The following data are taken from the balance sheet at the end of the current year. Determine the (a) working capital, (b) current ratio, and (c) quick/acid-test ratio. Present figures used in your computations. Round ratios to the nearest tenth. Accounts payable$145,000Accounts receivable110,000Accrued liabilities4,000Cash80,000Income tax payable10,000Inventory140,000Marketable securities250,000Notes payable, short-term85,000Prepaid expenses15,000 ANSWERS: (a) (b) (c)

Name: The following data are taken from the balance sheet at the end of the
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Description: The following data are taken from the balance sheet at the end of the current year. Determine the (a) working capital, (b) current ratio, and (c) quick/acid-test ratio. Present figures used in your computations. Round ratios to the nearest tenth.

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Chapter16: Financial Statement Analysis

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The following data are taken from the balance sheet at the end of the current year. Determine the (a) working capital, (b) current ratio, and (c) quick/acid-test ratio. Present figures used in your computations. Round ratios to the nearest tenth.

Accounts payable	$145,000
Accounts receivable	110,000
Accrued liabilities	4,000
Cash	80,000
Income tax payable	10,000
Inventory	140,000
Marketable securities	250,000
Notes payable, short-term	85,000
Prepaid expenses	15,000

ANSWERS:
(a)
(b)
(c)

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